<a href="https://www.apartments.com.au/developers/golden-age-group">Golden Age Group</a> has unveiled a new benchmark for wellness-led residential design, announcing the transformation of the 1867-built, heritage-listed Maritima House, into a private wellness clubhouse for residents of its flagship bayside community, <a href="https://www.apartments.com.au/new-townhouses/maritima-brighton-47-south-road-brighton-vic-3186">Maritima Brighton</a>. 
&nbsp; 
The repurposing of the historic property into a high-end private wellness clubhouse responds to shifting priorities among homebuyers, with wellbeing now emerging as a key driver in residential real estate. Research from the Global Wellness Institute shows that up to 90 per cent of health outcomes are linked to where and how we live. 
&nbsp; 
According to recent research, 73 per cent of homeowners and renters say health impacts will be a factor in selecting their next home. Buyers now seek environments that encourage holistic wellbeing, with access to lifestyle-enhancing amenities such as yoga rooms, gyms, pools, parks, and community facilities that support connection and active living.

[smartcode_project:default project_id=140306 project_image_fid=363738] 
&nbsp; 
Designed by award-winning <a href="https://www.apartments.com.au/architects/carr-design">Carr</a>, Maritima Brighton’s wellness offering is situated around the historic Maritima House, once a central point of the Xavier Junior School and now approved for adaptive reuse as the Maritima Clubhouse.&nbsp;

The Maritima Clubhouse facilities are centred around a central courtyard and pool and feature indoor and outdoor amenities including:

<ul>
	<li>A yoga and meditation studio</li>
	<li>Communal infrared sauna &amp; steam room</li>
	<li>Cold plunge bath and magnesium pool</li>
	<li>Fully equipped gym</li>
	<li>Outdoor swimming pool</li>
	<li>Lounge areas and pergola with BBQ facilities</li>
	<li>Landscaping with mature heritage-protected trees and drought-tolerant native plantings</li>
</ul>

This resort-style amenity will be exclusively available to residents of Maritima Brighton, creating a space for relaxation, recovery and community connection just moments from the beach. The project’s proximity to local walking paths, recreational trails, sports grounds and parklands further enhances its health-oriented positioning.

“As wellness becomes central to how Australians choose to live, we are embedding it into the fabric of our communities, not simply as amenity, but as infrastructure.” said Damien Hehir, Development Director, Golden Age Group.

“The Maritima Clubhouse reflects this ethos, bringing meaningful wellness infrastructure to an exceptional bayside location.”

[smartcode_project:default project_id=140306 project_image_fid=363814]

Nearly all 13 land lots in the first release of land parcels at Maritima Brighton sold in the opening weeks. Brighton downsizers made up the majority of purchasers. The overarching purchasing drivers were security and privacy, with Maritima featuring a&nbsp;monitored gated entry, underground parking and discreet integration into Hartley Street’s quiet residential streetscape.

The broader masterplan will feature&nbsp;83 architect-designed townhomes by Carr. Guided by a refined coastal palette, heritage restoration, and carefully considered landscaping, the masterplan is designed to complement the site’s natural features while protecting its legacy and elevating its future.

[smartcode_project:default project_id=140306 project_image_fid=363737] 
&nbsp; 
“The design approach at Maritima Brighton is grounded in the idea that wellbeing is shaped by the environments we inhabit every day," Carr Director Richard Beel said.

"By centring the masterplan around the heritage Maritima House and surrounding it with wellness facilities, a green canopy, and walkable connections to the bay, we’ve created a community where architecture, landscape and lifestyle work together to support long-term health, ease of living and meaningful connection."&nbsp;

[smartcode_project_cta:default project_id=140306]

A 19th-century landmark reimagined as Bayside’s most exclusive wellness centre

Joel Robinson

Golden Age launches Maritima Brighton as "new wave of wellness real estate" hits Melbourne's Bayside

Boutique Melbourne developer <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has launched its ultra-luxury <a href="https://www.apartments.com.au/new-apartments/maison-savoy-150-esplanade-brighton-vic-3186">Maison Savoy</a> development, a redevelopment of the former Brighton Savoy Hotel on the Esplanade.

Prices range between $3.7 million for the 174 sqm apartments, the just over $16 million for the penthouses that reach 375 sqm.

Maison Savoy occupies a tightly held coastal position offering views of Port Phillip Bay and sitting moments from the iconic Brighton Bathing Boxes, Royal Brighton Yacht Club and Middle Brighton Baths, and a short walk from Church Street’s retail and dining precinct.&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366478]

Lowe Living has brought together a renowned design team: Studio Kennon as architect and interior designer, <a href="https://www.apartments.com.au/landscape-architect/myles-baldwin-design">Myles Baldwin</a> as landscape architect, and Aurora Spa &amp; Bathhouse as the private wellness curator.&nbsp;

The collection comprises a limited selection of two and three-bedroom residences set across two distinct and private buildings that converge around a central oculus with a calming reflective pool.

Visible from above, the garden maintains a constant connection to landscape throughout the development. Cascading climbers soften the architecture, while tree canopies move gently in the sea breeze, introducing light, motion and seasonal change into interior spaces.

Curved glass, honed natural stone, polished plaster, ribbed European clay brickwork and limestone will be used in the build, as well as a restrained palette of natural materials respond to the coastal context.

[smartcode_project:default project_id=140818 project_image_fid=366477]

At the heart of Maison Savoy is a private gym and residents-only European-inspired bathhouse, curated by Sorrento’s Aurora Spa &amp; Bathhouse, an amenity rarely seen within a residential setting.&nbsp;

The full-floor wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia.

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366474]

Each residence will feature state-of-the-art Wolf ovens, cooktops and a combi-microwave oven, integrated wine fridges, concealed butler's pantries, and bathrooms with freestanding baths, double vanities, brushed nickel fixtures and feature glass.

Custom oak veneer joinery and flexible living zones lead to adaptable winter gardens which offer a transitional space with operable glazed windows allowing residents to modulate light, breeze and outlook depending on the season.&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

Emma Lowe, Co-Founder of Lowe Living, said the uncompromising architecture and design of Maison Savoy reflected a new luxury benchmark for considered, lifestyle-driven living.&nbsp;

“Maison Savoy is one of our most curated and refined residential projects to date," Lowe said.

“Maison Savoy is more than a residential address, it is a legacy in the making. Collaborating with such an esteemed architecture and interior designer in Pete Kennon from Studio Kennon to express the level of quiet luxury and refined architecture that is appropriate for such a rare beachfront location was such an important part of reimagining this iconic site.&nbsp;

“Bringing together the likes of Studio Kennon, Myles Baldwin and Aurora Spa &amp; Bathhouse has ensured we are elevating every single element of the project to reflect the enduring nature of the architectural design response."

[smartcode_project_cta:default project_id=140818]

Lowe Living unveils Maison Savoy in Brighton

The <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>-backed project, now around 70 per cent complete with builder <a href="https://www.apartments.com.au/builders/ironside">Ironside</a> on site, is expected to welcome its first residents by October 2026, with new incentives aimed at purchasers preparing for near-term move-in.

The developer is offering a select number of upgrade packages valued at up to $5,000, available on a first-come, first-served basis. These incentives are offered for new purchasers.

[smartcode_project:default project_id=342 project_image_fid=358855]

Buyers can choose between two inclusions. The first is a move-in whitegoods package, designed to streamline the transition into a new home by covering key appliances from day one. The second option provides an additional secure basement storage cage, responding to growing demand for flexible storage solutions in apartment living.

The incentive release comes as <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> moves into its final stages of construction, with more than half of the residences already sold and a buyer profile heavily weighted toward owner-occupiers.

[smartcode_project:default project_id=342 project_image_fid=357508]

Designed by John and <a href="https://www.apartments.com.au/interior-designers/kathy-demos">Kathy Demos</a>, Candela comprises a mix of one to four-bedroom apartments and townhouses, with an emphasis on larger floorplans, natural light, and functional storage, features that align closely with the upgrade offering.

Residences have been planned around everyday liveability, with flexible layouts, private living zones, and generous internal proportions that exceed typical apartment benchmarks in the area. Kitchens are fitted with Miele appliances, while the broader development offers exclusive resident amenities, including a residential lounge and rooftop terrace. A ground-floor café and wellness centre are also integrated into the project, designed to foster community connection while serving both residents and the wider neighbourhood.

[smartcode_project:default project_id=342 project_image_fid=357511]

Salter Brothers says the project has been shaped to support a range of buyers, from first-home buyers to downsizers to young families and even inter-generational lifestyle, with over 90 per cent of purchasers to date intending to live in their homes rather than invest.

Positioned on Upper Heidelberg Road, Candela sits in the heart of Ivanhoe Village, Ivanhoe Station, and a range of local parks and pre-eminent schools, contributing to a Walk Score of 90. This level of connectivity has underpinned demand from buyers seeking a low-maintenance lifestyle without sacrificing access to established amenity.

[smartcode_project_cta:default project_id=342]

Salter Brothers introduces limited $5,000 upgrade packages as Candela Ivanhoe nears completion

Now complete and open, <a href="https://www.apartments.com.au/developers/time-place">Time &amp; Place</a>'s Queensbridge Building introduces a new way of living in <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, where residences, hospitality and culture come together in a fully realised precinct.&nbsp;

The 65-storey tower is already welcoming residents and guests, with its integrated hotel, dining venues and amenity offering activating the building from day one.

Developed by Time &amp; Place and constructed by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, <a href="https://www.apartments.com.au/buildings/the-queensbridge-building-southbank-90-queensbridge-street-southbank-vic-3006">The Queensbridge Building</a> at 90 Queensbridge Street combines 353 residences with the 188-room Hannah St Hotel, operated by TFE Hotels.&nbsp;

The precinct is already active, with Hannah St Hotel welcoming guests and venues such as Coupette, Bar Hannah and the Carriage Lounge operating across the ground and podium levels. Weekends are seeing strong visitation, reinforcing its role as both a residential address and a broader lifestyle destination.

[smartcode_project:default project_id=1504 project_image_fid=360990]

What sets Queensbridge apart is its integration of residential living with a fully operational hotel and hospitality offering, delivering a level of service, activation and convenience rarely seen in Melbourne's apartment market.

Interiors throughout, both in the residential tower and the hotel, were designed by <a href="https://www.apartments.com.au/interior-designers/flack-studio">Flack Studio</a>, with architecture by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>.&nbsp;

The residences balance rough-cut stone, cool concrete and rich timbers against abundant natural light. Floor-to-ceiling windows and open floorplans carry that through into the layout.

Interior designer David Flack has described the hotel as "part grand hotel, part cultural clubhouse," reflecting the project's ambition to balance hospitality, design and community.

[smartcode_project:default project_id=1504 project_image_fid=362184]

The Queensbridge Clubhouse sits at the heart of the residential offering: lap pools, sauna, steam room, gym, outdoor terraces, private dining rooms and co-working spaces, all bookable through the building's dedicated app. The hotel's wellness amenities extend that offer further, with Hannah St Hotel services available to residents through the Clubhouse.

Time &amp; Place Founder and Director Tim Price said the vision was always to create something more than a residential tower.

"The vision for Queensbridge was to create a building that felt connected to the neighbourhood and to Melbourne itself. It is not just a residential tower, but a place where residents, visitors and the wider community can gather, experience hospitality and enjoy city life together."

[smartcode_project:default project_id=1504 project_image_fid=362170]

The National Gallery of Victoria, Arts Centre Melbourne and the Yarra River promenade are within easy walking distance, and Crown Melbourne and the CBD are next door. The Victorian Government's $1.7 billion Melbourne Arts Precinct Transformation is already underway in the surrounding area, which will only add to the precinct's draw over the coming years.

Many of the remaining apartments sit on the upper levels, with sweeping views across Melbourne's CBD skyline, Albert Park and Port Phillip Bay, the floor-to-ceiling windows and open floorplans are what those floors were designed around.

Price said the development was always intended to contribute to the surrounding neighbourhood rather than stand apart from it.

"We set out to create a building that reflects Melbourne's culture and energy. By combining residences, hospitality and shared spaces, Queensbridge becomes more than a place to live. It becomes part of the neighbourhood."

[smartcode_project:default project_id=1504 project_image_fid=272109]

Only a limited collection of completed two and three-bedroom residences remain, presenting a rare opportunity to secure a finished home within a design-led precinct and move in immediately.

For Time &amp; Place, the completion of The Queensbridge Building marks the close of a significant chapter in delivery. Looking ahead, early plans are underway for a new 22-storey residential project on Park Street in South Melbourne, comprising approximately 300 apartments. More to come in 2026.

Time &amp; Place's Queensbridge Building presents a fully realised, lived experience. For buyers seeking certainty, design quality and lifestyle, it delivers a precinct already brought to life.

[smartcode_project_cta:default project_id=1504]

Now complete: Inside Southbank's newest residential and hotel destination

At <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, a limited collection of loft-style residences introduces a housing typology rarely seen in Melbourne’s established north-east.

Designed as double-level homes within a broader apartment development, these residences respond to buyers seeking the spatial separation and flexibility of a townhouse, while retaining the efficiency, connectivity and greater security from apartment living.

Located at 40 Upper Heidelberg Road, Candela is a 58-residence development currently under construction and scheduled for completion this Spring. More than half the project has already sold, with a strong owner-occupier profile shaping the community.

[smartcode_project:default project_id=342 project_image_fid=357499]

The loft-style offering, exemplified by the four-bedroom ‘Lustre’ residences, reframes apartment living through a clear division of zones across two levels.&nbsp;

The lower floor is anchored by a large open-plan living and dining area, where a full kitchen with Miele appliances, an island bench, and a walk-in pantry sits directly adjacent to the main living space. Timber flooring runs throughout this level, reinforcing the continuity between kitchen, dining, and lounge, while double-glazed windows improve thermal performance and acoustic comfort. Additionally, and a prominent feature of this apartment is its expansive rear glass wall, which measures approximately 5.4 metres in height and 8.5 metres in width, allowing abundant sunlight to illuminate the residence.

The primary living zone connects to an oversized private terrace, designed to accommodate both daily use and larger gatherings. Its scale allows for outdoor dining, children’s play equipment, and flexible seating arrangements, effectively extending the internal living footprint.&nbsp;The master bedroom is also positioned on this level, with direct terrace access, a walk-in robe, and an oversized ensuite that includes a built-in dressing table, establishing a degree of separation from the upper floor bedrooms.

[smartcode_project:default project_id=342 project_image_fid=357502]

Upstairs, the layout shifts to a more private configuration. Three additional bedrooms with built-in robes are arranged around a secondary living area, creating a dedicated zone for children or guests. This level also incorporates a study area suitable for a full-width desk, alongside a central bathroom designed as a combined wet area for bath and shower use. A separate powder room on each level supports functionality for larger households.

The decision to split living across two levels is central to how these residences operate. Rather than relying on a single open-plan arrangement, the design introduces multiple living zones that can be used simultaneously without overlap, supporting families, remote work, and multi-generational living within the same footprint.

[smartcode_project:default project_id=342 project_image_fid=364553]

Interior designer <a href="https://www.apartments.com.au/interior-designers/kathy-demos">Kathy Demos</a> describes the broader design approach as one shaped by natural light and movement through space, noting that “from the atrium to the front door of your apartment… the sun washes the surfaces with light.” This emphasis on daylight is reinforced across the loft residences, where both levels are designed to maximise natural light in living areas and bedrooms, reducing reliance on artificial lighting.

Sustainability measures are integrated at both the building and apartment level. Candela targets an average 7.5-star NatHERS energy rating, supported by double glazing, passive design principles, and a rooftop solar array that contributes to powering communal areas. Water reuse systems and efficient fixtures are also included to reduce long-term consumption.

These residences sit within a broader development that prioritises shared amenity and connectivity. Residents have access to a rooftop terrace, ground-floor lounge, and on-site café, while Ivanhoe Village’s retail, dining, and transport options at your doorstep. A Walk Score of 90 reflects the practicality of the location, particularly for buyers seeking reduced reliance on cars.

Candela has been designed by architect John Demos in collaboration with interior designer Kathy Demos and developer Salter Brothers, with construction led by <a href="https://www.apartments.com.au/builders/ironside">Ironside</a>. As Demos explains, the intent was to focus on how spaces are experienced day-to-day: “We design to anticipate the feeling you want to have in your home. It’s more about substance than surface.”

[smartcode_project_cta:default project_id=342]

Inside the loft-style residences at Candela Ivanhoe

Josh Frydenberg

The recently unveiled Federal Budget is expected to support home ownership aspirations for thousands of households, according to Housing Industry Association (HIA) managing director, Graham Wolfe.

&ldquo;This budget will make a difference in the lives of thousands of Australians,&rdquo; he said.

A majority of the housing schemes are targeted to help first home buyers bridge the deposit gap and bring the aspiration of home ownership within reach of a broader range of Australians.

[smartcode_project:default project_id=8082 project_image_fid=59642]

Under new measures, budding first home buyers will now be able to access up to $50,000 of their own concessional and non-concessional contributions that they can put towards a first home deposit.

This presents an expansion of $20,000 on the previous $30,000 limit that could be released under the First Home Super Saver Scheme, which has been welcomed by the property industry.

The changes &ldquo;provide greater incentive and motivation for tens of thousands of young, aspirational Australians to save a deposit for their first home through a tax effective scheme&rdquo;, said Wolfe.

CEO of Master Builders Australia, Denita Wawn, said: &ldquo;Harnessing the power of compound interest in superannuation to save a deposit makes sense.&rdquo;

The Government has also committed to an extra 10,000 places for the First Home Loan Deposit Scheme, helping first home buyers secure a property with a five per cent deposit.

<h2>A win for single parents</h2>

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1156208419.jpg" width="1000" />

The Budget also expands on the success of the First Home Loan Deposit Scheme with the new Family Home Guarantee, which will assist single custodial parents buy a home with a deposit as low as 2 per cent.

&ldquo;These measures build off the economy-saving success of the HomeBuilder scheme by providing more focused support where it is most needed,&rdquo; Property Council chief executive Ken Morrison said.

This new scheme will deliver single parents, the overwhelming majority of whom are women, a step up to gaining the security that comes with home ownership.

&ldquo;Matching the 10,000 places still to open under the Deposit Scheme from July with a new allocation of 10,000 places under the New Home Guarantee will help ensure first home buyers can choose to buy either a new home or an existing home&rdquo;, Wolfe said.

Single custodial parents will need to wait until next week for a fact sheet with further information on eligibility criteria.

<h2>Other measures</h2>

[smartcode_project:default project_id=22584 project_image_fid=71763]

Other measures revealed by Treasurer Josh Frydenberg also help support workers, downsizers and broader communities.

The budget has committed to lowering the minimum age for downsizer contribution from 65 to 60, allowing a one-off post-tax contribution of up to $300,000 per person when they sell their home.

The Federal Government has also announced additional funding under the National Housing and Homelessness Agreement.

&ldquo;A further $124.7 million to assist states and territories to meet their social and community housing requirements will help meet growing demand for housing support&rdquo;, said Morrison.

Master Builders also announced they were pleased to see the Federal Government stepping up to assist the states and territories with their role to provide community and social housing, following calls for boosted social housing investments.

[smartcode_project:default project_id=3233 project_image_fid=160015]

Other measures also include an extension of the Boosting Apprentice Commencement wage subsidy which has helped restore confidence in job training to grow the next generation of homebuilders.

The government has also continued its 10-year, $110 billion spend on infrastructure, which includes $15.2 billion over the next ten years for new rail and road infrastructure projects, helping build communities.

&ldquo;All up, this is a budget for all Australians. It is very welcome and is strongly supported&rdquo;, Urban Taskforce chief executive Tom Forrest said.

The recently unveiled Federal Budget is expected to support home ownership aspirations for thousands of households

max.kwok_55688

Are first home buyers the winners of the 2021 federal budget?

There was one surprise for the housing sector in tonight's federal budget, and three foreshadowed housing measures were made official.

The federal treasurer Josh Frydenberg advised the parliament in his budget speech that new house starts were now at the highest level in 20 years. 

"New loans to first home buyers reached their highest level in nearly 12 years.

"HomeBuilder has been a huge success and our $2 billion investment in affordable housing is bringing on more supply," he said.

"Our housing measures go even further," he added.

"Helping another 10,000 first home buyers build a new home with a 5 per cent deposit.

"Supporting 10,000 single parents to purchase a home with a 2 per cent deposit. 

"Increasing the amount that can be released under the First Home Super Saver Scheme from $30,000 to $50,000.

"Under the Coalition, home ownership will always be supported," he noted.

The budget effectively continued the First Home Low Deposit Scheme for new homes and off the plan acquistions, and tweaked the First Home Super Saver Scheme, and introduced a new scheme for single parents.

The 10,000 Family Home Guarantees will be made available for single parents over the next four financial years.

The Family Home Guarantee will be available regardless of whether that single parent is a first home buyer or previous owner-occupier. 

Applicants have an annual taxable income of no more than $125,000. 

A fact sheet with further information on eligibility criteria will be available on the NHFIC’s website next week.

The surprise announcement was the government will lower the minimum age for the downsizer super contribution from 65 to 60.

“This will allow Australians nearing retirement to make a one-off post-tax contribution of up to $300,000 per person (or $600,000 per couple) when they sell their family home,” the budget documents advised.

“This improves the flexibility for Australians to contribute to their superannuation savings, and may encourage people to downsize sooner and increase the supply of family homes.”

The budgetary measure will be argued as positive for first home buyers and next home buyers by freeing up established housing stock for younger property buyers.

There was a warning after the budget announcement from the Property Council on the long-term economic consequences of idling population growth.
 
"Budget assumptions anticipate that Australia’s population growth will be limited to only 0.2 per cent over in the next financial year. Net overseas migration is forecast at -77,000 in 2021/22, with a return to normal levels of migration not expected until 2024/25," the PCA noted.
 
“The Budget has revealed that our restricted border is the biggest constraint on our economy.
 
“Our lack of growth is going to catch up with us with economic and employment growth expectations slowing over the forward estimates.
 
“Population growth is not an optional extra for Australia’s economy," the PCA said.

The budget also made $15 billion in additional infrastructure commitments including for:

a) the North‑South Corridor in South Australia
b) the Great Western Highway and Newcastle airport in New South Wales
c) the new Melbourne Intermodal Terminal in Victoria 
d) the Bruce Highway in Queensland
e) METRONET in Western Australia
f) highway upgrades in the Northern Territory
g) Light Rail Stage 2A in the Australian Capital Territory and
h) Midland Highway upgrades in Tasmania.

Josh Frydenberg noted that "when construction work began to dry up, HomeBuilder came to the rescue."



jchancellor

Federal Budget formalises three mooted housing measures

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GUEST OBSERVATION
Gone are the days when economic policy was adjusted once each year by the government in the budget and fine-tuned once each month at meetings of the Reserve Bank board.
The coroanvirus means we haven’t had a budget in <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/2020-21-budget-announcement">more than a year</a>. What the Reserve Bank has done to interest rates means its monthly board meetings matter less.
Governor Philip Lowe reaffirmed this week that monetary policy was <a href="https://www.rba.gov.au/speeches/2020/sp-gov-2020-07-21">on hold</a> for the foreseeable future. The bank’s cash rate is as low as it can go (actually well <a href="https://www.rba.gov.au/speeches/2020/images/sp-dg-2020-06-30-graph03.gif">below</a> its 0.25% target) and the bank will only intervene in the bond market if it has to in order to keep bond rates low (which it doesn’t — the demand for even the rush of new bond issues is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-17/record-australian-government-bond-auction-coronavirus-covid-19/12158390">much bigger</a> than the supply).
It has lobbed the ball to Frydenberg’s side of the court.
The only situation in which it might be brought back into play is if the government ran into funding problems, of which there is no sign whatsoever.
Holding the racket
The treasurer’s problem is sequencing, and we will are likely to get hints on how he’ll play it in the <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> to be released today.
The first challenge was to limit the damage to the economy from the initial shock near the start of the year — to stop a vicious cycle of weaker spending, plummeting investment and soaring unemployment.
These self-reinforcing crises required a circuit breaker.
The emergency stimulus provided through Jobkeeper and Jobseeker has been a great success at putting a floor under incomes and demand.
The government ensured a basic income for people whose jobs were axed or at risk, kept hundreds of thousands attached to their jobs and bolstered household incomes despite a massive loss of activity. It gets a tick.
But these emergency measures will not get the economy going again once the crisis has eased.
Some argue they will stand in the way of a recovery if they keep people ensconced on benefits or attached to firms without futures.
A tricky transition
Phase two will require genuine fiscal stimulus: not a security blanket of the kind we have had, but a direct injection of money that will spark a new wave of investment and employment.
The trick is to sequence it properly.
The announced tapering of <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">JobKeeper</a> and <a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">JobSeeker</a> will cut incomes and cut jobs as firms pay people less and realign staff levels in line with lower subsidies.
The government believes it has got it right, but it is forecasting an 80% drop in JobKeeper payments between September and the end of the year. It might not be a <a href="https://theconversation.com/whatll-happen-when-the-moneys-snatched-back-our-looming-coronavirus-support-cliff-138527">cliff</a> but it is still a very steep slope that will need to be matched by a sharp recovery in economic activity.
It needs to be ready to revise the timetable as needed. Its current projections look like a best case scenario.
An unknowable stage two
The second stage will involve a good deal of spending on infrastructure. But, especially without certainty about immigration, it is hard to tell what will be needed.
The pandemic will have changed the way we work and play. It is not yet clear whether people take advantage of remote working and move out of congested cities. it is not yet clear what it will mean for digital health, digital education and digital shopping.
An even-harder stage three
The final stage will involve structural reforms; alterations to tax settings, regulations and industrial relations. Which is where it gets really hard. It will require not only sequencing but getting agreement across the political divide.
No civil society can base its economic and social structures on the mere desire for efficiency. Fairness and social justice matter just as much, and they can best be guaranteed if the measures are pulled together as a package with trade-offs that protect the values that matter to Australians.
That’ll be Frydenberg’s biggest challenge. The future doesn’t need to be rushed out this week, or in the October Budget, but in the months to come it’ll have to take shape.
 
<a href="https://theconversation.com/profiles/warren-hogan-530397">Warren Hogan</a>, Industry Professor, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/frydenbergs-three-stage-economic-recovery-is-abominably-hard-to-get-right-142841">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Frydenberg's three-stage economic recovery is abominably hard to get right

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EXPERT OBSERVER
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Why has the treasurer of Australia, Mr Josh Frydenberg let the banks off the hook for not passing on the full interest rate cut when the RBA reduced interest rates by 0.25% of a 1% earlier this week to stimulate the economy.
Two of the big banks CBA &amp; NAB have refused to pass on the full interest rate cut to their customers, profiting on the back of everyday Australians.
When the Treasurer, Mr Josh Frydenberg was interviewed by Ross Greenwood on the today show of Channel 9, instead of bringing the banks to account threatening them with new legislation to force them to pass on 100% of the rate cut he put the earnest on the customers to shop around for a better deal.
The process of changing lenders is very difficult and intrusive, and the banks have too much control over their clients. 
The federal government of Australia needs to be held to account to stop the big banks holding their mortgage holders to ransom and not passing on the rates cuts which are meant to stimulate the economy not their bottom line. 
This has an effect of stifling economic growth, short changing every day Australians and damping confidence and restricting the growth of new jobs.
Glenn Farah is a partner at real estate agency NGFarah.
 
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jrobinson-rf4aSBido9

Treasurer Josh Frydenberg fails to stand up to the big four

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Treasurer Josh Frydenberg has expressed a fear that "hard-working families" trying to get a housing loan have been hit by regulators being too stringent in enforcing responsible lending rules.
Frydenberg has welcomed the small rise in capital city housing prices, citing Treasury research that a 10 per cent increase in house prices could boost GDP by 0.5 per cent.
Treasurer Josh Frydenberg has pushed back against regulators being too stringent in enforcing responsible lending rules, warning that this could penalise "hard-working families" trying to get a housing loan and hurt the economy.
"It's vitally important that the housing market remains strong," he said.
"To date, ASIC  has adopted a principles-based and scalable approach. This has allowed flexibility for lenders to appropriately take into account the facts and circumstances of each case and vary the degree of inquiry and verification depending on the customer risk involved."
"Common sense dictates that a sensible balance needs to be struck because an unduly restrictive application of these obligations can do as much harm as an overly lax one. Clearly, the risk that the provision of credit may cause substantial hardship to some should not result in a significantly reduced ability to access credit by the vast majority of borrowers," the Treasurer added. 
After his speech to The Australian Financial Review's Property Summit in Sydney on Thursday, Frydenberg said he expects any further rate cuts to be passed on.
The banking industry has also warned that the flow of credit to key sectors like first-home buyers and small and medium-sized businesses could be disrupted if APRA proceeds with capital reforms that are more stringent than international standards.
The Australian Banking Association says any additional capital required that was in excess of the Basel III requirements would be “detrimental” to the domestic economy.
The so-called Basel III rules are part of a package of measures introduced after the global financial crisis aimed at making banks stronger. 
“At present, Australian economic growth is weak and any further impediments to lending such as increased capital requirements, combined with disadvantages in international markets, will have a further negative impact on economic growth when they come into effect,” the ABA says in a submission to the prudential regulator’s review of the capital framework for banks.
 
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Josh Frydenberg

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